The initial public offer (IPO) of IND SMC received bids for 41,65,000 shares as against 44,15,000 shares on offer, as per BSE data as of 17:00 hours on Tuesday (13 January 2026). The issue was subscribed 0.94 times.
The issue opened for bidding on Tuesday (13 January 2026) and it will close on Friday (16 January 2026). The price band of the IPO was fixed between Rs 141 to Rs 149 per share. The minimum order quantity is 1,000 equity shares. The equity shares will list on BSE’s SME platform.
The IPO comprised a fresh issue of 44,15,000 equity shares. The promoter and promoter group shareholding will dilute to 69.49% from 100% pre-issue.
About 3,09,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 58,62,000 equity shares. The issue and the net issue will constitute 27% and 25.65% respectively of the post issue paid up equity share capital of the company.
The company will utilize the net proceeds for Funding capital expenditure to purchase plant and machinery and working capital requirements.
Ahead of the IPO, INDO SMC on 12 January 2026, the company raised Rs 26.16 crore from anchor investors, by allotting 17.56 lakh shares at Rs 149 each to 17 anchor investors.
INDO SMC is engaged in diversified manufacturing activities comprising the Sheet Moulding Compound (SMC) Division for energy meter enclosure boxes, SMC sheets, and SMC chequered plates; the Fiberglass Reinforced Plastic (FRP) division for grating plates; and the Electrical Components division for HTCTs, HTPTs, LTCTs, feeder pillars, and related power distribution and protection switchgear. The Company employed 332 personnel as of 30 November 2025.
The company recorded revenue from operations of Rs 112.54 crore and net profit of Rs 11.45 crore for the period ended 30 September 2025.